Armenia's unemployment drops 9.3%, hired workers rise 5.6% in September - Ministry of Finance

YEREVAN, December 5. /ARKA/. The number of officially registered unemployed in Armenia decreased by 9.3% in September, while the number of hired workers increased by 5.6% to 776,814, mainly due to the growth in the number of workers in the construction, trade, and education sectors. This is stated in the “Review of Macroeconomic Developments: October 2024” by the Ministry of Finance of Armenia.

It is also noted that, under the conditions of high economic activity in September compared to the same month last year, the average nominal wage in Armenia increased by 6.8%, reaching 279,279 drams. At the same time, wages in the public sector rose by 7.2%, to 218,809 drams, while in the private sector, they increased by 6.5%, to 303,014 drams.

“Real wages, in the context of 0.6% inflation, increased by 6.1%,” the study notes.

As noted in the previously published report by the Armenian Ministry of Economy, “Armenia: Economic Prospects: January-September 2024,” the three highest-paid sectors in Armenia in September 2024 were information and communication (835,840 drams), financial and insurance activities (809,417 drams), and mining and quarrying (478,763 drams).

Compared to September 2023, an increase in average wages was recorded in all sectors of employment, except for the information and communication, construction, and electricity, gas, steam, and air conditioning supply sectors.

The highest growth was recorded in the following sectors: financial and insurance activities (40.4%), agriculture, forestry, and fisheries (13.5%), and manufacturing (13.1%). ($1 = 402.72 drams)